PlantX Life acquires MK Cuisine Global´s Deli branch

PlantX Life (VEGA.C), through its wholly owned subsidiary PlantX Lifestyle USA, has completed the previously announced transaction to acquire all of the issued and outstanding member interests of MK Cuisine Global's Plant-Based Deli (New Deli). "Completing the acquisition of New Deli brings us one step closer to realizing our vision of expansion ... We are now ready to fully leverage the operational expertise of both companies and combine our strengths to implement strong growth strategies," said PlantX- Founder Sean Dollinger. As you can probably guess, New Deli is a sustainable and plant-based retail location. Founded by Matthew Kenney, New Deli is advertised as a neighborhood bodega, also known as the convenience store, selling everyday goods from housewares and personal care products to frozen foods, staples, snacks, beer, and wine. After the takeover of New Deli by PlantX Lifestyle USA, all stationary New Deli locations will be renamed "New Deli by PlantX" and operated in cooperation with the MKC team. While it's not the most innovative rebranding, it's clear that PlantX wants to maintain the presence that New Deli has established for itself. In fact, PlantX CEO Julia Frank believes the brand awareness of the New Deli name will be an exciting merger for PlantX. Additionally, the company plans to leverage MKC's operational experience while continuing to focus on growing its e-commerce platform. In this way, Ms. Frank hopes to facilitate the growth of a diverse ecosystem for everything that is vegetable. Under the terms of the acquisition, PlantX Lifestyle USA will acquire all issued and outstanding member shares of New Deli for a total purchase price of $ 1,569,999. In addition to closing the recent acquisition of New Deli, PlantX Life announced today that the company has entered into a charitable partnership with Squamish Food Bank. This partnership aims to foster the company's commitment to both health promotion and sustainability through initiatives to reduce food waste. Squamish, where PlantX's first flagship store is located, as well as the indoor plant warehouse, is an important location for the company. By providing nutritious foods that are saved, reused, and passed on, Squamish Food Bank is able to address food shortages and reduce food waste. With this in mind, PlantX and the Squamish Food Bank share a common goal focused on contributing to the welfare of the Squamish community.